49% of millennials said they would consider using financial
services options from companies like Google or Apple. By
comparison, only 16% of older consumers said they would consider
making that move.

Apple and Google currently offer consumers products they can use
to pay for goods and services. Lots of smaller Silicon Valley
startups are also going after business lines traditionally owned
by banks — everything from peer-to-peer lending, student loan
securitization, and wealth management.

Another Makovsky survey notes that 77% of the executives it
interviewed said they are concerned millennials will abandon
traditional financial services companies.

"Marketing and communications executives at banks are very
concerned with losing business to these companies,"
said Scott Tangney, executive vice president
with Makovsky.

There is already evidence Wall Street is working to beat back the
tide of startups chipping into their revenue.

Goldman Sachs
has plans to establish an online consumer and small business
lending division. This would have Goldman competing with nascent
peer-to-peer lenders like On Deck and Lending Club.